Utomi, Amosun in Bitter Dispute Over N200M OPIC Lease

In a heated exchange, Professor Pat Utomi, a renowned political economist, and Senator Ibikunle Amosun, former governor of Ogun State, have traded accusations over a failed investment agreement involving the Ogun State Property and Investment Corporation (OPIC).

Utomi recently took to social media to recount his experience with a revoked OPIC lease, which he claimed cost him and his South African partners a loss of N200 million. The professor stated that his troubles began when Amosun, upon assuming office as governor, abruptly halted the agreement that had been initially signed under the administration of Amosun’s predecessor. Despite several attempts to resolve the issue, including seeking the intervention of President Bola Tinubu and other political figures, Utomi said his efforts were futile.

In response, Senator Amosun issued a strongly worded statement dismissing Utomi’s claims as a result of an “entitlement mentality.” Amosun explained that the decision to revoke the lease was based on an assessment by his team, which found the ongoing construction on the OPIC land in Lagos State to be improper. He further stated that Utomi’s investment was overestimated and that the professor had attempted to pressure the state for a higher compensation than was warranted.

Amosun also revealed that before he took office, the Ogun State House of Assembly had already blacklisted Utomi, labeling him an “enemy of the state” due to alleged shoddy business practices. Amosun claimed that, despite this, he personally reached out to Utomi to understand the situation, only to find that Utomi’s claims were unfounded.

The former governor asserted that he had offered a refund of N100 million as compensation, which Utomi rejected, demanding the full N200 million. Amosun maintained that his decision was in the best interest of the state, dismissing Utomi’s complaints as an attempt to tarnish his reputation.

The exchange between Utomi and Amosun has drawn attention to the broader issues of governance and the handling of public-private partnerships in Nigeria, highlighting the complexities and challenges involved in such dealings.